State of Tennessee Department of Treasury grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,951 shares of the company's stock after purchasing an additional 46,980 shares during the quarter. State of Tennessee Department of Treasury's holdings in PACCAR were worth $14,870,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in PACCAR by 60.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 41,898 shares of the company's stock worth $4,358,000 after acquiring an additional 15,737 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in PACCAR in the 4th quarter worth approximately $2,152,000. MetLife Investment Management LLC boosted its holdings in shares of PACCAR by 1.8% during the 4th quarter. MetLife Investment Management LLC now owns 138,594 shares of the company's stock worth $14,417,000 after purchasing an additional 2,459 shares during the last quarter. Natixis purchased a new stake in shares of PACCAR in the fourth quarter valued at approximately $8,954,000. Finally, Norinchukin Bank The increased its holdings in shares of PACCAR by 11.2% in the fourth quarter. Norinchukin Bank The now owns 29,907 shares of the company's stock valued at $3,111,000 after purchasing an additional 3,015 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.
Insider Activity
In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company's stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company's stock.
PACCAR Price Performance
PCAR opened at $88.56 on Wednesday. The firm has a market cap of $46.49 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $98.44 and its 200 day moving average price is $105.61. PACCAR Inc has a 12-month low of $85.05 and a 12-month high of $118.81.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, sell-side analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.
PACCAR Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is currently 16.69%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Truist Financial lowered their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $108.59.
Check Out Our Latest Stock Analysis on PACCAR
About PACCAR
(
Free Report)
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.
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